Novare Capital Management LLC Makes New Investment in Citigroup Inc. (NYSE:C)

Novare Capital Management LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,651 shares of the company's stock, valued at approximately $401,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Orion Capital Management LLC bought a new stake in Citigroup in the fourth quarter worth $28,000. MorganRosel Wealth Management LLC bought a new stake in Citigroup in the first quarter worth $28,000. American National Bank & Trust bought a new stake in Citigroup in the first quarter worth $29,000. Mascagni Wealth Management Inc. bought a new stake in Citigroup in the fourth quarter worth $34,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Citigroup in the fourth quarter worth $39,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

NYSE:C traded down $1.16 during mid-day trading on Monday, hitting $87.56. The company's stock had a trading volume of 12,401,295 shares, compared to its average volume of 14,649,853. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $88.82. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $163.54 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 0.69 and a beta of 1.34. The stock has a fifty day moving average of $76.63 and a 200-day moving average of $74.24.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The firm had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. As a group, equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the transaction, the director owned 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

C has been the subject of a number of research analyst reports. Truist Financial cut their target price on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Wall Street Zen lowered shares of Citigroup from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Bank of America upped their price objective on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $85.43.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.